Quanta Services, Inc. (NYSE:PWR) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP boosted its position in shares of Quanta Services, Inc. (NYSE:PWR - Free Report) by 60.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,174 shares of the construction company's stock after purchasing an additional 6,456 shares during the period. Wellington Management Group LLP's holdings in Quanta Services were worth $3,213,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PWR. Panagora Asset Management Inc. lifted its stake in shares of Quanta Services by 79.1% in the 1st quarter. Panagora Asset Management Inc. now owns 11,464 shares of the construction company's stock valued at $1,509,000 after purchasing an additional 5,063 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Quanta Services by 6.6% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,067 shares of the construction company's stock worth $2,509,000 after buying an additional 1,181 shares during the last quarter. Great West Life Assurance Co. Can grew its stake in Quanta Services by 2.6% during the first quarter. Great West Life Assurance Co. Can now owns 26,648 shares of the construction company's stock worth $3,655,000 after buying an additional 668 shares during the last quarter. Raymond James Trust N.A. lifted its position in shares of Quanta Services by 8.3% during the first quarter. Raymond James Trust N.A. now owns 4,949 shares of the construction company's stock worth $652,000 after purchasing an additional 379 shares in the last quarter. Finally, Blair William & Co. IL lifted its holdings in Quanta Services by 21.7% in the first quarter. Blair William & Co. IL now owns 16,156 shares of the construction company's stock valued at $2,126,000 after buying an additional 2,884 shares during the period. Institutional investors and hedge funds own 90.49% of the company's stock.

Insider Activity at Quanta Services

In related news, EVP Donald Wayne sold 1,101 shares of the business's stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the transaction, the executive vice president now owns 40,065 shares in the company, valued at approximately $10,494,626.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Quanta Services news, Director Worthing Jackman sold 9,572 shares of the business's stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $237.31, for a total transaction of $2,271,531.32. Following the completion of the sale, the director now owns 7,486 shares in the company, valued at approximately $1,776,502.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Donald Wayne sold 1,101 shares of the business's stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $261.94, for a total transaction of $288,395.94. Following the sale, the executive vice president now owns 40,065 shares of the company's stock, valued at approximately $10,494,626.10. The disclosure for this sale can be found here. Insiders have sold 47,125 shares of company stock worth $11,270,215 in the last quarter. Company insiders own 1.20% of the company's stock.

Quanta Services Trading Down 0.1 %

Shares of NYSE PWR traded down $0.13 during midday trading on Thursday, reaching $259.62. The stock had a trading volume of 745,696 shares, compared to its average volume of 950,624. The firm has a market cap of $37.84 billion, a price-to-earnings ratio of 51.84 and a beta of 1.10. Quanta Services, Inc. has a twelve month low of $153.74 and a twelve month high of $262.01. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.44 and a current ratio of 1.47. The company's 50 day moving average price is $224.33 and its 200 day moving average price is $201.52.

Quanta Services (NYSE:PWR - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The construction company reported $2.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.21. The firm had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.19 billion. Quanta Services had a net margin of 3.57% and a return on equity of 16.46%. The company's revenue for the quarter was up 31.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.54 EPS. As a group, sell-side analysts expect that Quanta Services, Inc. will post 7.63 EPS for the current year.

Quanta Services Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 17th. Investors of record on Tuesday, April 9th will be given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 0.14%. Quanta Services's payout ratio is presently 7.19%.

Wall Street Analysts Forecast Growth

PWR has been the subject of several recent analyst reports. Truist Financial initiated coverage on shares of Quanta Services in a research note on Thursday, March 14th. They issued a "buy" rating and a $301.00 target price for the company. KeyCorp began coverage on shares of Quanta Services in a research note on Wednesday, January 10th. They issued a "sector weight" rating for the company. Stifel Nicolaus raised their target price on shares of Quanta Services from $237.00 to $252.00 and gave the stock a "buy" rating in a research note on Friday, February 23rd. The Goldman Sachs Group lifted their price objective on shares of Quanta Services from $227.00 to $259.00 and gave the stock a "buy" rating in a research note on Monday, February 26th. Finally, Evercore ISI initiated coverage on shares of Quanta Services in a report on Tuesday, February 13th. They set an "outperform" rating and a $237.00 price target on the stock. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $239.54.

Quanta Services Profile

Quanta Services, Inc provides infrastructure solutions for the electric and gas utility, renewable energy, communications, and pipeline and energy industries in the United States, Canada, Australia, and internationally. The company's Electric Power Infrastructure Solutions segment engages in the design, procurement, construction, upgrade, repair, and maintenance of electric power transmission and distribution infrastructure and substation facilities; installation, maintenance, and upgrade of electric power infrastructure projects; installation of smart grid technologies on electric power networks; and design, installation, maintenance, and repair of commercial and industrial wirings.